Piper Sandler Trims First Mid Bancshares (NASDAQ:FMBH) Target Price to $38.00

First Mid Bancshares (NASDAQ:FMBH) had its target price reduced by Piper Sandler from $39.00 to $38.00 in a report issued on Monday, Benzinga reports. They currently have an overweight rating on the bank’s stock.

A number of other equities analysts have also weighed in on FMBH. Stephens decreased their price target on First Mid Bancshares from $40.00 to $38.00 and set an overweight rating for the company in a research report on Tuesday, January 30th. Raymond James upped their price objective on shares of First Mid Bancshares from $34.00 to $38.00 and gave the company an outperform rating in a research note on Monday, January 29th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $37.00.

First Mid Bancshares Price Performance

Shares of NASDAQ:FMBH opened at $31.62 on Monday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.91 and a current ratio of 0.91. The company has a market capitalization of $755.40 million, a PE ratio of 10.20 and a beta of 0.87. The stock has a fifty day moving average of $30.76 and a 200-day moving average of $31.21. First Mid Bancshares has a one year low of $21.77 and a one year high of $35.83.

First Mid Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Wednesday, May 15th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.91%. The ex-dividend date of this dividend is Tuesday, May 14th. First Mid Bancshares’s dividend payout ratio is currently 29.68%.

Hedge Funds Weigh In On First Mid Bancshares

Several institutional investors and hedge funds have recently bought and sold shares of FMBH. Ballentine Partners LLC purchased a new stake in shares of First Mid Bancshares in the fourth quarter worth approximately $65,151,000. Vanguard Group Inc. increased its stake in First Mid Bancshares by 6.0% in the 3rd quarter. Vanguard Group Inc. now owns 1,040,575 shares of the bank’s stock valued at $27,638,000 after buying an additional 58,456 shares during the period. Dimensional Fund Advisors LP lifted its position in First Mid Bancshares by 5.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 678,953 shares of the bank’s stock worth $23,533,000 after buying an additional 34,401 shares in the last quarter. Endeavour Capital Advisors Inc. acquired a new stake in shares of First Mid Bancshares during the 3rd quarter valued at $10,895,000. Finally, Wellington Management Group LLP boosted its stake in shares of First Mid Bancshares by 5.9% during the 4th quarter. Wellington Management Group LLP now owns 294,666 shares of the bank’s stock valued at $10,213,000 after buying an additional 16,388 shares during the period. Hedge funds and other institutional investors own 47.57% of the company’s stock.

First Mid Bancshares Company Profile

First Mid Bancshares, Inc, a financial holding company, provides community banking products and services to commercial, retail, and agricultural customers in the United States. It accepts various deposit products, such as demand deposits, savings accounts, money market deposits, and time deposits. The company's loan products include commercial real estate, commercial and industrial, agricultural and agricultural real estate, residential real estate, and consumer loans, as well as construction and land development, 1-4 family residential properties, and multifamily residential properties loans; and other loans comprising loans to municipalities to support community projects, such as infrastructure improvements or equipment purchases.